Financial News

Global Industrial (GIC) Reports Q3: Everything You Need To Know Ahead Of Earnings

GIC Cover Image

Industrial and commercial distributor Global Industrial (NYSE: GIC) will be reporting results this Tuesday after market close. Here’s what to look for.

Global Industrial beat analysts’ revenue expectations by 2% last quarter, reporting revenues of $358.9 million, up 3.2% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

Is Global Industrial a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Global Industrial’s revenue to grow 4.3% year on year to $357 million, a reversal from the 3.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.58 per share.

Global Industrial Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Global Industrial has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time since going public by 3.3% on average.

Looking at Global Industrial’s peers in the industrial distributors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. MSC Industrial delivered year-on-year revenue growth of 2.7%, beating analysts’ expectations by 1.5%, and Fastenal reported revenues up 11.7%, in line with consensus estimates. MSC Industrial traded up 1.1% following the results while Fastenal was down 6.7%.

Read our full analysis of MSC Industrial’s results here and Fastenal’s results here.

There has been positive sentiment among investors in the industrial distributors segment, with share prices up 3.7% on average over the last month. Global Industrial is down 4% during the same time and is heading into earnings with an average analyst price target of $38 (compared to the current share price of $34.86).

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